Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0042%/8h= −4.6% APRpaid last 24h +3.849%

Price spread now: Binance against GMX+0.068%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on GMX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Binance is 0.068% dearer against GMX than usual: you sell high and buy low (spread +0.068% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX WIF/USD [WBTC.b-USDC]	0.2482	L +0.0142% / S −0.0018%	pay 0.0018% / 1h	51m 06s	$8K	—	100x
Short	Binance WIFUSDT	0.2484	0.0100	get 0.0050% / 4h	51m 06s	$19.1M	$115.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against GMX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee GMXbpFee BinancebpOrdersPrice spread, now +0.068%Rate

Funding earned: −$8.82
Price spread: +0.068% → 0.000%: $6.78
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$24.04
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Binance: live order book, 7 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy GMX no order-book sample	—	—	—	—	—
Sell Binance live order book, 7 min ago	2.02 bp	10.7 bp −$11	26.7 bp −$267	92.5 bp −$9,251	doesn't fit

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

WIF on 32 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Backpack WIF_USDC_PERP	−0.0273%	1h	0.2479	−0.109%	$85K	$275K	10x	as long as short
BloFin WIF-USDT	−0.0183%	4h	0.2483	+0.044%	$1.0M	$830K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2482	−0.014%	$19K	$597	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2482	−0.009%	$802	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	−0.479%	$11K	$10K	12x	as long as short
Lighter WIF	+0.0096%	1h	0.2483	+0.036%	$139K	$629K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2484	+0.085%	$57K	$497K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2481	−0.038%	$34K	$283K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2482	−0.009%	$77K	$57K	5x	as long as short
Binance WIFUSDTshort	+0.0100%	4h	0.2484	+0.068%	$19.1M	$115.7M	75x

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit WIFUSDT	+0.0100%	4h	0.2479	−0.121%	$17.0M	$38.8M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2481	−0.036%	$5.9M	$35.3M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2480	−0.077%	$1.2M	$7.6M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2482	+0.004%	$22.6M	$11.1M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2479	−0.117%	$4.5M	$13.8M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2482	+0.004%	$7.5M	$12.9M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2479	−0.117%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2478	−0.154%	$75K	$69K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2489	+0.267%	$285K	$2.2M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2493	+0.447%	$46K	$624K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2481	−0.036%	$5K	$1.3M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2478	−0.157%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2481	−0.052%	$566	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2480	−0.077%	$166K	$695K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2480	−0.093%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2480	−0.071%	$83K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]long	L +0.0142% / S −0.0018%	1h	0.2482	long leg	$8K	—	100x
Deribit WIF_USDC-PERPETUAL	+0.0153%	1h	0.2481	−0.036%	$47K	$258K	25x	as long as short
Kraken Futures PF_WIFUSD	+0.0261%	1h	0.2482	+0.019%	$648K	$2.3M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0328%	1h	0.2483	+0.044%	$330K	$2.7M	50x	as long as short
Hyperliquid WIF	+0.0332%	1h	0.2484	+0.093%	$8.1M	$4.8M	5x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2481	−0.022%	$0	—	15x	as long as short